TOCOM falls on weak oil, new Sino-U.S. tariffs

Madiha Shakeel September 2, 2019

BEIJING:* Tokyo Commodity Exchange (TOCOM) futures fell on Monday amid growing concerns over a slowing global economy after new Sino-U.S. tariffs came into force

* The benchmark TOCOM rubber contract for February delivery

finished 0.6 yen ($0.0057) lower at 162.9 yen per kg

* The most-active rubber contract on the Shanghai futures exchange for January delivery fell 5 yuan ($0.7049) to finish at 11,750 yuan per tonne. China’s new technically specified rubber (TSR) 20 futures contract was up 35 yuan at 10,045 yuan per tonne

* The U.S. dollar was quoted around 106.2 yen, compared with around 106.29 yen on Friday afternoon

* Oil prices weakened after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude

* Japan’s benchmark Nikkei stock average was down 0.41%

* TOCOM’s TSR 20 futures contract for March delivery closed at 141 yen per kg

* The front-month rubber contract on Singapore’s SICOM exchange for October delivery last traded at 130.8 U.S. cents per kg, down 0.1%

Copyright Reuters, 2019

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